Tag Archives: auburn-hills-michigan
Chrysler Talks Stall as Banks Balk at Trading Loans for Equity
Bloomberg – Chrysler LLC, needing lender concessions by March 31, isn’t negotiating with its banks because it can’t persuade them to discuss trading loans for uncertain equity, people familiar with the companies’ actions say. Chrysler must reduce its debt by […]
Bush says auto bailout not ready
Reuters – President George W. Bush said on Monday an announcement on a auto industry rescue was not imminent, leaving the industry’s fate clouded in uncertainty for a little longer. "We’re not quite ready to announce that yet," Bush told […]
From convention donor to bailout seeker
Los Angeles Times – Financial giants and other large firms now being bailed out by the government spent millions underwriting the Democratic and Republican conventions last summer, just weeks before coming to Washington seeking multibillion-dollar handouts. The big donors included […]
GM, Chrysler considering bankruptcy to get bailout: report
Reuters – General Motors Corp and Chrysler LLC are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multi billion dollar government bailout, Bloomberg reported, citing a person familiar with internal discussions. In response to automakers’ bailout […]
